While in Barcelona (pickpocket capital of the world) we actually saw this:
A pickpocket came up to a fellow passenger on our cruise and tapped him on the shoulder while holding up a wallet with the comment "Sir, your wallet?" When the perplexed passenger checked his pockets and said "Yes it is!" the pickpocket scooped all of the cash out and handed the now empty wallet to the passemger with the statement "Reward!" and promptly disappeared into the crowd.
I've never seen anything before that was quite that brazen.